Tuesday, April 3, 2007

Tensions over Iran have "spooked" oil prices: Bush

(Reuters) - Uncertainty over the fate of 15 British sailors and marines seized by Iran on March 23 in the northern Gulf has also caused jitters in the oil market, sending U.S. crude futures above $68 a barrel to the highest level in more than six months last week.

"The price of crude oil is on the rise because people get spooked for example when it looks like there may be a crisis with a crude oil producing nation like Iran," Bush told reporters.


Read more at Reuters.com Business News

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